WILMINGTON, Del.–(BUSINESS WIRE)–Amalgam Rx, Inc., a leading Digital Therapeutics and Patient Support company, announces the acquisition of Avhana Health, a privately held clinical decision support (CDS) company, which has deep integrations with the leading electronic health records (EHR). Amalgam Rx will expand Avhana’s CDS tools to multiple therapeutic areas and combine them with other digital solutions to simplify doctors’ workflows.
Avhana Health is a CDS company used by doctors to support real-time adoption of and adherence to clinical quality guidelines. Avhana’s SaaS-based CDS tool has been implemented in more than 150 provider groups and identifies over $120 million a year in cost savings. Enabling real-time two-way interactions within the EHR, Avhana optimizes provider workflow beyond simple data integration.
“EHR integration is the Holy Grail for digital health solutions, but it’s not only about data integration; workflow optimization is even more important. Providers, working at the nexus of digital health adoption and scaling, will only adopt tools that are safe, effective, and embedded in their workflow. The combination of Avhana and Amalgam will bring us closer to realizing digital health’s tremendous potential,” said Ryan Sysko, chief executive officer of Amalgam Rx.
“Amalgam’s acquisition of Avhana aligns with our vision of improving quality and reducing healthcare costs. We are pleased that Avhana’s CDS platform will be championed by Amalgam, with their extensive digital health experience, clinical leadership, and market development expertise. Amalgam is the ideal partner to enhance our CDS platform and carry our vision of a healthier future forward,” said Noah Weiner, chief executive officer of Avhana Health.
“This is an unprecedented moment in the healthcare industry. The COVID-19 pandemic has accelerated adoption of digital technology to support remote care. Combining relevant healthcare data with seamless, efficient, and trustworthy workflows is key to successful provider use of these technologies,” said Dr. Marlene Grenon, director of digital health at University of California, San Francisco (UCFS) Innovation Ventures.
“Leading Health systems are actively engaging in the digital revolution. The task at hand is to leverage the foundation of EHR enablement to use digital in a way that takes cost out of the system, improves patient care and quality, reimagines workflow, and substitutes capital for labor,” said Eric Langshur, co-founder and executive chairman of AVIA, the nation’s leading healthcare innovation network.
The acquisition is Amalgam Rx’s first and closed in January 2021.
About Amalgam Rx
Amalgam Rx creates exceptional digital medicine products and patient support programs to increase access, improve adherence, strengthen outcomes, and reduce costs of care. For more than 15 years, our team has been reimagining care delivery, creating lasting change across the chronic care ecosystem. Amalgam Rx has built an innovative portfolio of digital solutions, including patient support programs, digital therapeutics, and digital-pharma combination products— delivered through a wide variety of business models. Our proven end-to-end methodology enables the entire lifecycle from R&D to commercialization. Working in partnership with many of the world’s leading life sciences companies, Amalgam Rx has deployed products across three continents. For more information on how Amalgam Rx’s FDA-cleared, clinically validated technologies bring patients and providers closer together, reduce costs for payers, and unlock sustained value for partners, visit amalgamrx.com.
The M&A market for healthcare companies continues to strengthen as we enter 2021. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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